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Budgets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Budgets

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • November 20, 2021 at 6:19 am #641107
    James124
    Participant
    • Topics: 159
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    1) Overhead budgets we make contains both production and non-production element or only production?
    2) Please answer this for labor budget also that whether we do for both direct and indirect labor or for direct labor only.

    November 20, 2021 at 7:49 am #641118
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51563
    • ☆☆☆☆☆

    Functional budgets will be prepared for production and non-production overheads separately. This is the same for labour.

    The full master budgets will include all overheads, but obviously only those relating to production are relevant in budgeting the cost of sales and the valuation of inventories.

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